Open AccessThe relationship of information asymmetry, Institutional ownership and Stock Liquidity with Income Smoothing in Tehran Stock Exchange
Author(s) -
Mansoreh Banam,
Alireza Mehrazeen
Publication year - 2019
Publication title -
journal of management and accounting studies
Language(s) - English
Resource type - Journals
ISSN - 2693-8448
DOI - 10.24200/jmas.vol4iss03pp6-11
Subject(s) - stock exchange , smoothing , econometrics , accrual , market liquidity , stock (firearms) , information asymmetry , economics , leverage (statistics) , business , financial economics , monetary economics , accounting , statistics , finance , mathematics , geography , earnings , archaeology
In this study relationship between information asymmetry, Institutional ownership and Stock Liquidity by Income Smoothing in Tehran Stock Exchange is expressed. Methodology: So of the study by 94 companies listed on Tehran stock exchange, that include 470 company - years، that During is the years 2010 up 2014. Smoothing in this research using discretionary accruals (modified Jones model) are calculated. The difference between bids to buy and sell shares representative information asymmetry. In this study, multiple linear regression model using F and t tests were used to test the hypotheses and for analyzing the data used spss statistics tools. Results: The Research indicated that thare is not significant relationship between independent variables of Stock Liquidity and Institutional ownership and Income Smoothing. also the finding of study manifest a significant and direct relationship between information asymmetry and Income Smoothing. Firm size and financial leverage are control variables. Conclusion: Finally, Research had found not significant relationship between stated variables and Income Smoothing.